Senior housing complex planned for Lake Geneva

LAKE GENEVA--A New York-based developer is planning to break ground this spring for a 162-unit senior housing center near Geneva Ridge Resort along Wisconsin Highway 50, according to a story in the Milwaukee Business Journal.

Whitestone Realty Capital, which is also developing senior residences in Milwaukee, is planning to break ground in April for a senior housing complex near Geneva Ridge that would include independent living, assisted living and memory care units. Construction is expected to be complete by next summer.

The $40 million project will be financed in part by revenue bonds provided by the Wisconsin Public Finance Authority and a federal EB-5 program open to foreign investors.

A spokesman for the project said health services would be provided by a national company based in Iowa.